US Dollar Index Price Analysis: Room for a move below 91.00

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  • DXY keeps navigating in a soft note around the 91.00 zone.
  • Bets for a convincing break below 91.00 remain on the rise.

DXY adds to Wednesday’s losses and returns to the 91.00 neighbourhood ahead of the ECB event later on Thursday.

Wednesday’s failed bullish attempt now exposes further consolidation and a potential break below the 91.00 support, including another visit to the recent lows near 90.80 (Tuesday).

A deeper pullback could even see the psychological 90.00 yardstick retested in the short-term horizon ahead of the February lows in the 89.70/65 band.

Below the 200-day SMA (92.11) the outlook for DXY is expected to remain on the negative side.

DXY daily chart

 

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